Alejandro Agag, CEO of Formula E Holdings, wants to bring his global formula racing championship to the city. But what makes his competition different from past races is that the cars in it are electric.

Powered by a battery that lasts only 25 minutes, these race cars — which mirror their Formula One counterparts in looks — will hit top speeds somewhere in the 150 mph range as they race through closed city streets, Agag said.

The racing championship, which has been approved by the Federation Internationale de l’Automobile, would begin in Miami sometime in 2014, Agag said. He added that the event would try to minimize its footprint as much as possible. The race will be a one-day event that will bring more than 2,000 team members and support crews to the city, along with 40,000 to 80,000 spectators, Agag estimates. An international race like this one would bring people from all over the world, he added.

Rio de Janeiro has already signed on as a host city, and the group is looking at other leading cities like New York, Paris, London, Beijing, Sydney and Moscow as possible locations.

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